ESMA announces enforcement priorities for 2023 financial statements
25 Oct 2023
The European Securities and Markets Authority (ESMA) has announced the priority issues that the assessment of listed companies' 2023 financial statements will focus on.
The common enforcement priorities related to financial reporting include:
- Insurance Contracts (IFRS 17)
- Amendments to IAS 12: International tax reform pillar two model rules
The common enforcement priorities related to sustainability reporting include:
- Preparations for the entry into force of the Corporate Sustainability Reporting Directive
- European Commission’s recommendation on transition finance
Special focus will be placed on:
- Impact of climate matters in IFRS financial statements
- Macroeconomic environment
- Refinancing and other financial risks
- Fair-value measurement and disclosures
- Disclosures relating to article 8 of the Taxonomy Regulation
- Disclosures of climate-related targets, actions and progress
- Scope 3 emissions
Please click for the public statement on enforcement priorities on the ESMA website, providing more background on each of the focus areas.
